Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sunnova Energy International ( (NOVA) ) has provided an update.
Sunnova Energy International reported a 19% revenue increase in Q3 2024, driven by a rise in solar systems in service, despite a dip in unrestricted cash due to seasonal factors. The company maintained its cash generation targets, aiming for $100 million in 2024, and sees potential for long-term growth supported by increased investment tax credits and a growing virtual power plant network. While solar product sales fell, Sunnova’s strategic focus on core energy services and larger systems with storage bolstered cash sales revenue significantly.
See more insights into NOVA stock on TipRanks’ Stock Analysis page.